EIA Petroleum Weekly Report Analysis 5-4-2016 (Video)

Some impressive internals for this report are blunted because of OPEC supply finding its way to the United States. The drop in US Oil Production was noteworthy in this report.

The United States should be thinking much more strategically with their energy policy right now. Again Politicians are dropping the ball at a crucial point from an economics standpoint in the energy industry. China is taking appropriate steps to monetize the current environment, while the United States continues to be the proverbial Deer in Headlights watching an excellent opportunity to add to the Strategic Petroleum Reserves at decade low prices in the oil market slip by the wayside.